Updated Triplex with Impact
New
For Sale
$699,900
219 NW 40th Court, Oakland Park, FL 33309
Residential Income, Oakland Park, FL
Property Size2,097 SF
Lot Size0.22 Acres
Price / SF$333.76
Days on Market3
Property Features for 219 NW 40th Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-16
Bedrooms
4
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Pets allowed
Yes, No
Subdivision
PROSPECT GARDENS
Elementary school
Lloyd Estates
Middle school
James S. Rickards
High school
Northeast
Standard status
Active
APN
494222082160
Size
2,097 SF
Lot size
0.22 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
electricity
Taxes and HOA fees
Tax Year
2025
Tax Description
PROSPECT GARDENS 22-26 B LOT 16 LESS W 55,18 W 25 BLK 9
Tax Annual Amount
10235
Legal Description
PROSPECT GARDENS 22-26 B LOT 16 LESS W 55,18 W 25 BLK 9
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
impact windows
central A/C
washer/dryer in units
granite kitchen
Building Details
Year built
1959
Floors in Building
1
Number of units
3
Flooring type
Vinyl
Building materials
CBS
Roof type
Shingle
Listing Agency:
Bank On It Realty
(954) 515-0030
Listed By:
Eugene J Schroeder · License #687483
(954) 816-4363
Added: Oct 23
Last Checked: Oct 25 at 2:06PM
MLS# B26092083
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,097-square-foot triplex contains three rented apartments: one with two bedrooms and one bathroom, plus two with one bedroom and one bathroom each. The 0.22-acre property has impact windows and separate electrical meters for each unit. Interior features include granite kitchen counters, central air conditioning, in-unit washers and dryers, and vinyl flooring. The building was constructed in 1959 with CBS materials and has a shingle roof.
Located in Oakland Park, the property is zoned RM-16 and served by public water and public sewer. Tenants pay their own electricity; the owner covers water.
Located in Oakland Park, the property is zoned RM-16 and served by public water and public sewer. Tenants pay their own electricity; the owner covers water.
Key Highlights
- Three rented units: one 2‑bedroom/1‑bath and two 1‑bedroom/1‑bath apartments
- 2,097 square feet on 0.22 acres
- RM‑16 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,957
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,140
$699.1K
Cap Rate 7%
$499,386
$499.4K
Cap Rate 9%
$388,411
$388.4K
Market Conditions
NOI Build-Up for 2,097 SF
Gross rent
$52.8K $25.20/SF
− Vacancy
−$2.9K −$1.39/SF
EGI
$49.9K $23.81/SF
− OpEx
−$15.0K −$7.14/SF
NOI
$35.0K $16.67/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,140
Cap Rate 7%
$499,386
Cap Rate 9%
$388,411
Alternative Uses
Best Use
Multifamily LT 5
$499.4K
$437.0K – $582.6K
NOI $34,957 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$460.7K
$403.1K – $537.5K
NOI $32,250 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.06M
$930.9K – $1.24M
NOI $74,473 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,126
Businesses Nearby
Explore this area
Business Placement
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied apartments offer a 2-bedroom layout and two 1-bedroom layouts, each with individual electrical meters.
Where is this triplex located?
The property is located at 219 NW 40th Court Oakland Park, FL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three rented units: one 2‑bedroom/1‑bath and two 1‑bedroom/1‑bath apartments; 2,097 square feet on 0.22 acres; RM‑16 zoning
